The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-03-10
A MONSTER RAILROAD DEAL.
The Baltimore q Ohio Lines Absorbed
by a Powerful New York Syndicate,
All the Anthracite and BituminouS
Coal Lands and Telegraph Lines.


New YORK, March 9-The Times says: "The
Times is authorized to announce that the con-
troll of the Baltimore e Ohio Railroad Company
has passed into the hands Of Alfred Sully, Of
New York. Negotiations with President Robert
Garrett have been in progress for some time.
Yesterday and late into last night, there were
important meetings relative to the transaction.
To-day Mr.. Sully will be able TO show in Wall
street the written contract by virtue of which
Mr. Garrett put him in possession. This is the
greatest, and bids fair to be the most influential
railway deal that has taken place in this country
within many years. 1t throws other affairs of
the sort far into the shade. The possibilities of
this new control are beyond estimation. By the
requirement of the Baltimore G. Ohio railroad
the railway of the lard that has ever been
considered out of the market-Mr. Sully and his
fri ends become controllers of what is probably
tn Q most extensive railway system in the world
1t stretches from New York almost to the utter
most parts OF the South and far into the West
It includes the Central railroad of
New Jersey; the Philadelphia & Read
ing system: the Richmond terminal and
Richmond g. Danvie properties the East
Tennessee, Virginia e. Georgia lines the Central
railroad of Georgia. and now, last of all, the Bal
tmore dS Ohio. And of all the properties there
is to be made one great trunk line, with 1000
miles of track. There will be unmeasured won
derment in railway and financial circles gener
ally when it comes to be known thatthe CARROTS
have really given up their control of the Balt-
more & Ohio system. 1t has been family pos
session; it has been family pride. The posses
sion profitable: the pride was well based
Bu: the indications at this time are that Robert
Garrett is not to sever his connection with the
company. 1t Is considered probable that Mr..
Garrett will even continue in the presidency
The primary idea Of his father may be much for
warded by this new deal now, indeed, does the
Baltimore & Ohio company become part-and
most important part-of just such a trunk line
as John w. Garrett planned and wished for. By
the transfer of the Baltimore & Ohio control to
Mr.. Sully and the syndicate that is associated
with him, the Baltimore a. Ohio practically sees
its lines heightened over 1000 miles in the North
and 5000 miles in the South. And the telegraph
war-ths wonderful coup places in Mr.. Suly 8
hand the power to settle that, too"
Mr.. Alfred Suly applied to by reporter
Of the Evening Post to-day, for some statement
in re gard TO the crcumstantial reports that a
syndicate represented by him mas virtually con-
cluded negotiations with President Robert Gar
re;t, of the Baltimore & Ohio, for the purchase
Of controlling interest in that road and it's de-
tendencies. AIR Sully said that he preferred to
say nothing until he could state something def
mite. and that he WAS not vet in a position to do
so. When the reporter remarked that he sup
posed the fact of the purchase was not denied,
Mr. Sully admitted that ''this pretty we'll
understood" but said he was not prepared to
announce the names of the parties concerned or
the terms Of the agreement. 1t was reported on
the street, to-day, that the price paid by the
syndicate for the Baltimore g. Ohio stock was
S221. but well informed and prominent banker
said that he had good reasons to believe it was
not much over 5000. A leading bank President,
in commenting or the Importance of the report
ed sale. said that the railroads represented in
the purchasing combination. in harmony with
thpm hny trN1o Of al ho anti ife
coal territory in the country. Mr. Alfred Suly
is understood TO represent the interests of Mr.
Austin Corbin. The Reading. the Pennsylva
MA. the Jersey Central and the New York
Central all understood to be par
ties to the great deal A prominent
broker remarked 10 day that the new combna
ton wonld represent the New York Central, the
Erie. the Pennsylvania, the Central and che
Reading and the Jersey Central roads, and that
these would command all the business coming
into New York. In connection with the Rich
mond terminal and the East Tennessee, Vir
einia & Georgia roads the system would
have control of nearly all the se:coast lines from
New York to Florida. In connection, too with
the Indiana. Bloomington & Western road. and
"a subsequent absorption by that road of the Ohio
Southern Tor the making of amicabe arrange
ments with that lne) the com mbination would
control all the btuminous coal territory except
that covered by the Buffalo, Rochester & Pitts
burg. 1t is understood that negotiations Of
some kind on foot for the control of the lat
Ter ROAD Also 1t is SupPosou tuai CAPITALISTS III
terested in the Adams Express Company are
among the hackers Of the Sully party, with
view to acquiring control of the Baltimore &
Ohio express business, they have acquire,
that on the Reading, AS to the Baltimore &
Ohio telegraph line, the syndicate will be in
position to make terms with the Western Unioi
Company if they find this to their interest
In an interview, to night, Mr. Sully said tn,
transaction had not yet been completed. ant
added that he could give no details until to
morrow.